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Food Service – Cash Handling. Is all your money going where you want it to go?. Charles E. Linderman, PRSBA. Director of Business Affairs Great Valley School District 47 Church Road Malvern, PA 19355 (610) 889 – 2125 Ext. 2123 [email protected]. Protecting your cash. - PowerPoint PPT Presentation
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Food Service – Cash Food Service – Cash HandlingHandling
Is all your money going where you want it to go?
Charles E. Linderman, PRSBACharles E. Linderman, PRSBA
• Director of Business Affairs• Great Valley School District
– 47 Church Road– Malvern, PA 19355
– (610) 889 – 2125 Ext. 2123– [email protected]
Protecting your cashProtecting your cash
• Establish Internal Controls
• Look for warning signs of embezzlement or theft
• Perform periodic audits of operation
• Implement backup plan
Internal ControlsInternal Controls
• Screen Cash handlers before hiring
• Use the 2 person system
• Require documentation of receipts
• Install effective inventory controls
Internal ControlsInternal Controls
• Lockable money bags
• Multi-part deposit tickets
• Reconcile cash register to the deposit
• Inventory personnel different than cash handlers
Look for Warning SignsLook for Warning Signsof Embezzlement/Theftof Embezzlement/Theft
• Decrease in Sales• Inventory Shortages• Decline in Bottom-
line• Jumpy Personnel• If you suspect it …
then it is probably happening
Back-up PlansBack-up Plans
ConclusionsConclusions
• Establish Effective Internal Controls
• Be aware of theft or embezzlement
• Perform periodic audits
• Establish a back-up plan
Periodic AuditsPeriodic Audits
• Revenue trends• Do not pre-schedule
audit• Inventory audit• Rotate job functions